Wednesday, February 8, 2012

GLP

GLP: Announced that it has recently signed 86,900 sqm of new and expansion leases in its China portfolio. Dahang International Transportation, a subsidiary of Hitachi Transport System Ltd, leased 52,500 sqm at GLP Tianjin Pujia in Tianjin, Northern China.

Ihush, an online retailer selling discounted branded young fashion, leased 24,400 sqm at GLP Park Kunshan in Suzhou, Jiangsu, China

Deppon Logistics a domestic third-party logistics provider leased 10,000 sqmat GLP Park Hunnan in Shenyang, Liaoning Province. Deppon Logistics also expressed interest to add another 5,000 sqm in the same park. As at Dec11, GLP achieved a total leased area of approximately 5.8m sqm, and a lease ratio of 91%.

We note that Street generally Positive on stock with 12 Buy Calls and 1 Sell with Mean TP of $2.28.

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